Solar Panel Cost Guide in Parkman, OH (2024 Update)
- Parkman Solar Installation Cost: $18,571
- 25-Year Savings: $12,849
- Payback Period: 17.3 Years
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Average Cost of Solar Panels in Parkman
See how much it might cost to go solar in Parkman.
The national average cost of solar panels is $2.66 per watt, but in Parkman it’s 3 per watt.The average Parkman homeowner needs a 7.8-kilowatt system, which would cost about $18,571 with the federal tax credit, or $26,557 before the 0 tax credit is applied.
How much you pay can go higher or lower than the average in Parkman based on a few factors, such as the brand of solar panels you choose and the solar company you hire.But, after you've paid the upfront cost of installation, the ROI for most homeowners is quite fruitful, with a net average savings of about $13,000 over 20 years on utility bills.
To calculate your potential ROI and connect with a local solar installer, click the button below.
Solar savings over time in Parkman
| Year | Return on Investment |
|---|---|
| 1 years | $-17,331 |
| 3 years | $-14,850 |
| 5 years | $-12,369 |
| 7 years | $-9,888 |
| 9 years | $-7,408 |
| 11 years | $-4,927 |
| 13 years | $-2,446 |
| 15 years | $35 |
| 17 years | $2,515 |
| 19 years | $4,996 |
| 21 years | $7,477 |
| 23 years | $9,958 |
| 25 years | $12,438 |
Top Solar Installers in Parkman
When making the switch to solar, many homeowners opt to go with a solar installation company since DIY solar panel installation can be a difficult project. Plus, if you aren’t sure what type of solar panels and equipment you need, a solar installer can help you find the right equipment for you after a site survey and consultation.
If you're on the hunt for a solar installer in Parkman, the EcoWatch team has put together a list of our top suggestions here:
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
See all of the solar companies in Parkman
Factors that Affect Solar Panel Costs in Parkman
For many Parkman homeowners, the decision to install a solar energy system depends on cost. However, the range of solar installation costs can be quite wide in Parkman, with typical prices between $20,000 to $40,000. There are a number of factors that greatly influence the price you’ll pay, which we'll go over below.
Solar Equipment
The cost of solar panel systems varies by thousands of dollars due to a few different factors. One of the key factors is the system size, which is measured in kilowatts (kW). Solar power systems that have better efficiency or power generation need better technology and/or more equipment, both of which can increase costs. For each additional kilowatt you need, your cost can go up by about $3,410.There are a lot of different solar panel brands and the one you pick also affects the cost. Usually, the brands that have better efficiency tend to also cost more. Plus, the type of equipment you’re looking to get can affect your total cost. If you only need panels, your system will be far less expensive than if you also need solar batteries or an electric vehicle charger.
Solar Financing Terms
For some homeowners, paying for solar panels out of pocket can be difficult. Solar loans are available from most installers in Parkman, which can reduce, or in some cases eliminate, your upfront costs to make solar more affordable.It’s wise to factor the interest you’ll pay in your final cost estimate. If you can afford to pay a higher down payment, you can reduce your total costs and the amount of time it’ll take to pay back the loan.
Solar Panel Installation Company
A final factor to keep in mind when trying to evaluate the cost of solar for your home or business in Parkman is the company you hire to install your solar system. Similar to choosing a company to install new cabinets, for instance, there’s no shortage of solar installers that offer a range of services at different price points.Additionally, some companies in Parkman know more about local solar incentives and can help you learn about additional rebates or tax exemptions. However, they may charge more for that service. Even if they cost more upfront, they could help you save more money in the long run.
Solar Panel Cost Data by System Size
| System size | Cost per system watt | Solar system cost | 25-Year savings | Payback period |
|---|---|---|---|---|
| 6 kW | $3.55 | $14,895 | $5,766 | 18.0 years |
| 8 kW | $3.48 | $19,478 | $8,070 | 17.7 years |
| 10 kW | $3.41 | $23,870 | $10,565 | 17.3 years |
| 12 kW | $3.34 | $28,071 | $13,251 | 17.0 years |
| 14 kW | $3.27 | $32,081 | $16,128 | 16.6 years |
| 16 kW | $3.21 | $35,900 | $19,196 | 16.3 years |
| 18 kW | $3.14 | $39,529 | $22,454 | 15.9 years |
| 20 kW | $3.07 | $42,966 | $25,904 | 15.6 years |
How to Save on Solar Panels
The solar company you opt for will affect not only your total costs, but also the kinds of solar panel brands, warranties, and other equipment you have access to. When choosing a solar company, there are a few important things you should keep in mind, including:
- Solar Panel Brands: Different companies have various brands and kinds of panels. If you want a specific brand, make sure the solar installer you’re considering has it.
- Reputation: Companies that have been operating for many years likely have a high reputation. This is important because it ensures that it will not only see your solar installation through, but will also provide adequate aftercare and customer support, such as part repairs and replacements.
- Warranty: Warranties that provide coverage for defective panels and repairs over a long period of time such as 25 years are the gold standard in the business, and offering that kind of warranty is one mark of a good company.
- Contract: It’s important to look over your solar installer’s contract fully to understand what services they will provide, what the warranty covers and what expectations you should have about the cost.
Best National Provider
SunPower
- Most efficient panels on the market
- National coverage
- Cradle to Cradle sustainability certification
- Great warranty coverage
- Expensive
- Customer service varies by local dealer
Best Solar Financing
Blue Raven Solar
- Industry-leading in-house financing
- Competitive pricing
- Excellent reputation
- Doesn't offer solar batteries
Best Social Impact
Palmetto Solar
- Expansive service area
- Makes charitable contributions
- Certified B Corp
- No leases or PPAs
- Quality of installation may vary by location
EcoWatch's Parkman, OH Solar Cost FAQs
How much does it cost to install solar panels in Parkman?
The average cost of solar panels in Parkman is about $17,050 for a 5-kW system and $34,100 for a 10-kW system before the ITC, but the actual cost will depend on things like the type of solar panels you want, what size system you need and how much energy you consume.
Is cost the most important thing to think about when buying solar panels?
The upfront cost is a key factor to consider, but whether it’s the most important for you depends on your goals for going solar. In cities where rooftop space is limited, efficiency can trump the cost. Other factors that are important to keep in mind are the quality and durability of your solar panels.
Is it worth going solar in Parkman?
Solar panels can be a good investment for many homeowners, but they might not be worth it for everyone. If your home doesn't get a lot of direct sunlight and/or your electricity bills are already fairly low, solar panels might not be for you.
How long do solar panels last in Parkman?
On average, solar panels can last about 25 to 30 years. Some even last up to 50 years, but their efficiency decreases by about 0.8% each year. You can choose to replace them sooner if you want to maintain a larger amount of energy production.
Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.
Company research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.